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Cardano’s Blockchain Technology Set To Usher In The Fourth Industrial Revolution In Georgia

Cardano Set To Take Over Ethereum’s DeFi Business If Ridiculously High Transaction Fees Persist

The Former Prime Minister of Georgia, Mamuka Bakhtadze recently equated the importance of blockchain technology in the fourth industrial revolution to the steam engine during the first industrial revolution. “The first industrial revolution was powered by the steam engine, and the fourth industrial revolution will be powered by blockchain. That’s really a game changer.” Bakhtadze, […]

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Cardano Set To Take Over Ethereum’s DeFi Business If Ridiculously High Transaction Fees Persist

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The Former Prime Minister of Georgia, Mamuka Bakhtadze recently equated the importance of blockchain technology in the fourth industrial revolution to the steam engine during the first industrial revolution.

“The first industrial revolution was powered by the steam engine, and the fourth industrial revolution will be powered by blockchain. That’s really a game changer.”

Bakhtadze, who resigned as Prime Minister in 2019 after serving for one year was speaking during an interview with Cointelegraph’s Rachel Wolfson. He revealed that Georgia is working with Cardano’s Charles’ Hoskinson through IOHK to implement a special blockchain based-education program in the country.

“Currently, we are implementing a very important project in the education sector together with IOHK and Charles Hoskinson, who is a very good friend of Russia. Together with the Ministry of Justice and Minister for Education, we are implementing the credentials verification project. The team is using a Cardano-backed blockchain for this.”

Georgia is a small Eurasian country that borders Russia to the North, Turkey, Azerbaijan, and Armenia to the South and is often referred to as the crossroads where Western Europe meets Asia.

The country became the first national government in the world to incorporate blockchain technology in public services, in partnership with bitcoin mining hardware manufacturer, Bitfury.

“Our ministry of justice implemented Bitfury’s blockchain to register and verify property transactions. This was the first time not only in Georgia but for any state to implement blockchain in the public services sector.”

Georgia as a Blockchain-Powered Regional Hub for Business, Tourism, and Finance

Bakhtadze’s speech during the 2020 World Economic Forum’s virtual summit held in Davos highlighted the limitless potential presented by the blockchain technology, especially in the public sector.

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The overall vision, according to Bakhtadze, is to establish Georgia as a regional hub for business, trade, tourism, and finance through innovation in partnership with key stakeholders.

Georgia’s support for digital currencies peaked in 2018 when cheap electricity, tax breaks, and crypto regulation made the country a hot spot for local and foreign bitcoin mining investors.

The boom started to fade after the introduction of a tax bill in June 2019, as well as the prohibition of crypto as a payment method for goods and services.

However, Georgia is still looking to implement blockchain in its vision by nurturing talent and skills with establishing education centers in partnership with Cardano.

The country which has a population of approximately 4 million is also heavily dependent on tourism, attracting up to 9 million tourists in one year.

Apart from plans to develop a national digital currency, the country will also explore blockchain solutions to attract visitors, especially after the coronavirus period.

“The countries who will be more supportive of digital currencies and cryptocurrencies will have a very significant competitive advantage in the 21st century. Georgia cannot afford to miss this opportunity.”


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/cardanos-blockchain-technology-set-to-usher-in-the-fourth-industrial-revolution-in-georgia/

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Southeast Asia’s first Bitcoin fund launches to meet local institutional demand

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The Malaysia-based BCMG Genesis Bitcoin Fund-I, or BGBF-I, has officially launched, claiming to have become the first insured institutional crypto product available in the Southeast Asian region.

An announcement states the fund launched in response to a growing demand for institutional crypto products in Southeast Asia. The fund leverages an Artificial Intelligence (AI) powered blockchain-based platform provided by Calfin Global Crypto Exchang, which purports to offer increased security for customer holdings.

BGBF-I is regulated in Labuan, Malaysia, where IBH Investment Bank serves as the fund’s main advisor. Professional financial services provider, Hong Kong-based Alpha Calibration, will provide regulatory compliance services, and be audited by HLB Hodgson.

The investment vehicle also offers insurance coverage and underwriting for Public Offering Security Insurance.Fund Manager, Subbu Vempati explained:

“BGBF-I is a secure, insured and regulated platform where investors can get exposure to the Digital Assets industry. Investors get to benefit from our expertise in the financial, technical, and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.”

According to its official website, the BGBF-I Fund projects a minimum return of 12% per year, while noting that BTC itself has gained 266.5% over the past 12 months.

All accredited Asian investors must go through mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) screenings to access the fund.

The Bitcoin fund is one of many that have been recently launched to address growing institutional appetites BTC and other digital assets. In mid-February, the first physically settled North American Bitcoin ETF was approved in Canada. Grayscale’s Bitcoin Trust also continues to grow, with its assets under management recently tagging $39.8 billion.

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Source: https://cointelegraph.com/news/southeast-asia-s-first-bitcoin-fund-launches-to-meet-local-institutional-demand

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Former DC comic book artist fetches $1.85M auctioning Wonder Woman NFTs

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José Delbo, an artist who illustrated the comic book series Wonder Woman during the late 1970s, has made $1.85 million in an auction selling non-fungible tokens, or NFTs, depicting the popular heroine.

The 87-year-old Argentian, who also worked on Batman, Transformers, and The Beatles‘ Yellow Submarine comic book, collaborated with Milan-based crypto art duo Hackatao to produce the NFT drop, dubbed “Heroines.”

In total, 914 individual NFTs were auctioned, with the tokens each featuring one of seven illustrations or animated gifs depicting Wonder Woman in scenes invoking themes relating to the empowerment of women.

The tokens auctioned included two one-of-a-kind editions, four “open limited editions— where an unlimited amount of NFTs can be minted only while the auction is ongoing, and one edition for which no more than 10 copies could be sold.

The most expensive piece sold was “Heroines – Weight of the World,” an animated gif that illustrates Wonder Woman holding the world against a backdrop invoking themes of empowerment. The bidder “888” got their hands on the piece for a total of 88.888 Ether, worth approximately $136,000.

Screenshot of ‘Heroines – Weight of the World’

The open edition, “Heroines – Stand Out” , spanned 10 copies in total, with two being reserved for the artists, seven given away to raffle winners. The last remaining copy was auctioned for 15 Ether, or roughly $23,000. All proceeds from the sale were donated to Girls Who Code, an organization that works to closi the gender gap in the tech industry.

Heroines – Shine Bright” was the highest performing open limited edition, with a total of 151 copies selling for a combined total of $450,000.

José Delbo illustrated the Wonder Woman comics between 1976-1981 and is no stranger to the crypto world, holding a week-long exhibition of his comic book art in the Ethereum-based virtual reality world Decentraland during July 2020.

Comic book characters are increasing in popularity in the crypto art markets, with Marvel officially launching a Spiderman NFT that sold for $25,000 in February of this year.

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Source: https://cointelegraph.com/news/former-dc-comic-book-artist-fetches-1-85m-auctioning-wonder-woman-nfts

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TA: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K

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Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. BTC is now above $53,000 and it is likely to continue higher towards $54,500 and $55,000.

  • Bitcoin extended its rise above the $51,500 and $52,000 resistance levels.
  • The price is now trading well above $52,000 and the 100 hourly simple moving average.
  • There was a break above a key resistance trend line at $52,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but it is likely to find support near $52,800 and $52,000.

Bitcoin Price Extends Increase

Yesterday, we saw a fresh increase in bitcoin above the $50,000 resistance zone. BTC remained in a bullish zone and it was able to extend gains above $52,000 after a short-term downside correction.

The bulls gained strength, resulting in a strong push above $52,000. There was also a break above a key resistance trend line at $52,800 on the hourly chart of the BTC/USD pair. The pair cleared the 76.4% Fib retracement level of the key decline from the $52,748 swing high to $46,350 swing low.

Bitcoin is now trading well above $52,000 and the 100 hourly simple moving average. The price is trading nicely above the $53,000 level and it is likely to continue higher.

Bitcoin

Source: BTCUSD on TradingView.com

An immediate resistance is near the $54,000 level. The first key resistance is near the $54,250 level. It is close to the 1.236 Fib extension level of the key decline from the $52,748 swing high to $46,350 swing low. The next major resistance for the bulls is near the $55,000 level. Any more gains could lead the price towards the $58,000 resistance zone and the all-time high.

Dips Supported in BTC?

If bitcoin starts a downside correction, it is likely to remain well bid above $52,000. An initial support on the downside is near the $53,000 level.

The first key support is near the $52,700 level and the broken trend line. Any more downsides might call for a test of the main $52,000 support zone in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 60 level.

Major Support Levels – $53,000, followed by $52,700.

Major Resistance Levels – $54,000, $54,250 and $55,000.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-could-soon-hit-55k/

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